When the going gets tough

When the going gets tough, what is the first thing businesses look to do? Yes, cut costs! It’s a normal response to a downturn, indeed some would say crucial to keeping the business lean and mean. Unfortunately some of the first candidates for cutback are marketing, advertising, design and public relations. Considered as a luxury during tough times and something that can be done without – Of course professionals in these fields throw caution to this and advise businesses not to hit the panic button.
Sonia Shelcott from local marketing and PR consultants Millriver Publicity commented: “It is well documented that brands who maintain their marketing presence during a recession, when competitors are cutting back, can improve market share and deliver a return on their investments. Maintaining strong brand awareness even in a downturn can play a crucial role in helping businesses keep its head above water and keeping one step ahead of its competitors. In a downturn businesses need to show strength and stability to its customers, cutting back too much on marketing budgets in the short term can actually cost a business more money in the long term, by having to rebuild your brand when the economy picks up and falling behind your competitors. It is crucial to remain successful, it puts you in a strong position when the market does eventually improve.”
Andrew Fleming is commercial partner of Blocks Solicitors, and realises the benefit of strong brand awareness. Andrew commented: “Although the business environment may be hardening, that’s when good marketing comes into its own. All businesses need to be able to communicate their particular strengths. As a firm, we invest in focused local advertising and have a concerted marketing strategy, which we intend to follow through and even enhance through this economic downturn.”
Cementing a company’s message is also crucial in a downturn, a good PR campaign backs up the effectiveness of an advertising campaign, amplifying its message, and it can help any size company build awareness.
Sonia commented: “Unfortunately many people see PR as a luxury it shouldn’t be if used correctly and integrated with an effective marketing plan. PR enhances reputation, builds a brand, and makes your business stand out from the crowd.” She added: “If you cut PR out in tough times you leave the door open for your competitors to walk in, you are much better off maintaining a presence in the public eye, keeping in peoples minds and communicating with your customers. If you are serious about business, you have to invest in it.”


By Sonia Shelcott